Blockchain

Blockchain is a distributed ledger used to record transactions between parties whereby the information contained in each small recorded block are linked together in a historical chain that is saved in multiple locations (public or private) making it almost impossible to tamper with. Records saved within the chain are therefore permanent as long as the storage and processing resources dedicated to seeing the chain continue to exist and information can be encrypted so only certain parties can write or access it. Although a relatively new technology, blockchain has the potential to allow a high degree of transparency in any sequence of transactions such as currency exchanges, contracts, records of ownership or given consent.

Recently the IAB Tech Lab established a new working group with the goal of exploring ways to utilise blockchain. You can find out more information here.